XTX Topco Ltd Makes New $2.17 Million Investment in Plug Power Inc. (NASDAQ:PLUG)

XTX Topco Ltd bought a new stake in Plug Power Inc. (NASDAQ:PLUG - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 961,775 shares of the electronics maker's stock, valued at approximately $2,174,000. XTX Topco Ltd owned about 0.11% of Plug Power as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLUG. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Plug Power by 24.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker's stock valued at $5,472,000 after buying an additional 476,060 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Plug Power by 25.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock worth $15,000,000 after acquiring an additional 1,354,500 shares during the last quarter. MetLife Investment Management LLC raised its stake in Plug Power by 166.4% in the 3rd quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker's stock valued at $959,000 after acquiring an additional 265,042 shares during the period. Vontobel Holding Ltd. lifted its holdings in Plug Power by 44.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker's stock valued at $7,744,000 after purchasing an additional 1,051,400 shares during the last quarter. Finally, Diversified Trust Co bought a new position in Plug Power during the second quarter worth $35,000. Institutional investors own 43.48% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PLUG shares. Jefferies Financial Group dropped their price objective on shares of Plug Power from $2.20 to $2.00 and set a "hold" rating on the stock in a research report on Thursday, October 3rd. Evercore ISI reduced their price objective on Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a report on Wednesday, November 13th. Susquehanna lowered their target price on Plug Power from $3.00 to $2.00 and set a "neutral" rating on the stock in a research note on Monday, August 12th. Craig Hallum dropped their price target on Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Finally, Piper Sandler decreased their price objective on Plug Power from $1.60 to $1.40 and set an "underweight" rating on the stock in a report on Thursday, November 14th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $4.52.

Plug Power Trading Down 2.9 %

Shares of NASDAQ:PLUG traded down $0.07 during midday trading on Friday, hitting $2.38. 77,663,102 shares of the stock were exchanged, compared to its average volume of 63,108,728. The business's 50-day moving average price is $2.11 and its 200 day moving average price is $2.32. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -1.11 and a beta of 1.76. Plug Power Inc. has a 12 month low of $1.60 and a 12 month high of $5.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The company had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm's quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.47) earnings per share. Analysts predict that Plug Power Inc. will post -1.2 earnings per share for the current year.

Plug Power Profile

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.